Tuesday, October 17, 2006

Afternoon update

That was a very good title for the last post: "Patience is a virtue", hope everybody waited for PPI and IP to come out, if you did - not too many got hammered. Speaking of hammered - from yesterday's list mostly only True Religion got down 5% - if market improves - that is a buy, still.
Most others picks from yesterday 9- UP!!!, 9 loss UNDER 1%, so 18 out of 20 - that is a safe trading, I'd say. Somehow when I bought and sold GAP yeaserday - my six sence did me a favor ( not too big - but a drop on GAP today )

UPDATED AFTER MARKET CLOSE: This is very good illustration that charts might tell you more then earnings, analysts' ratings and so on - I was raving about how smart I'm for closing GAP yesterday, because I saw earnings shortfall in the morning, then it dropped to $25.5 - now I'm back home IT IS UP 5%! So the buttom line is: "Trust your feelings, but go with your TAs!"

I will post at about 10-10:30PM EST tonight
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